You Must Deliver On Your Mandate, Trade Minister Tells Agencies’ Heads

The Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, has unveiled a strategic roadmap aimed at accelerating Nigeria’s economic diversification, industrialisation, and global competitiveness by 2025.

Speaking at a high-level retreat in Abuja on Monday, Oduwole reaffirmed the ministry’s commitment to fostering a dynamic, resilient, and sustainable economy that empowers businesses to thrive locally, regionally, and globally.

Themed “Accelerating Diversification to Rebuild Prosperity,” the retreat brought together chief executives of 20 agencies under the ministry, along with key directors, to chart a pathway for reducing Nigeria’s dependence on imports and boosting industrial productivity.

The Nigeria Economic Summit Group (NESG) revealed that in the first three quarters of 2024, Nigeria’s total imports amounted to approximately ₦42.1tn, with Asia, Europe, and China being the primary trade partners.

Addressing this import dependency, Oduwole stressed the urgent need to shift toward self-sufficiency.

“Our priority is clear—create wealth, generate productive jobs, and foster shared prosperity for all Nigerians,” she stated.

“This is a moment of collective resolve. We must deliver—not just for Mr President but for over 200 million Nigerians who rely on us to build a stronger economy.”

The Minister of State for Industry, Trade, and Investment, John Enoh, described the retreat as a defining moment for Nigeria’s economic transformation.

“This is not just a retreat; it is a defining mission. We are not here merely to discuss problems but to deliver solutions,” he asserted.

Enoh outlined the key focus areas for driving industrial growth, including “scaling up industrialisation and expanding trade opportunities; enhancing investment policies to attract both local and foreign investors; and developing a sustainable ecosystem for manufacturing, small and medium enterprises, and export-driven industries.”

The Permanent Secretary of FMITI, Nuru Rimi, emphasised the retreat’s importance as a platform to align the ministry’s objectives with the administration’s broader economic agenda.

“This retreat is a platform for reflection, innovation, and execution. Our goal is to craft a growth model that fosters industry expansion, technological innovation, and economic resilience,” he remarked.

Rimi urged stakeholders to ensure that discussions at the retreat translate into actionable policies that will shape Nigeria’s economic trajectory in 2025 and beyond.